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Summary: My team shuts their doors all day long. I’m a very social person and as leader of the firm I want to engage and have discussions about what’s working and what’s not. Even if I have impromptu meetings to discuss things, they will rarely participate unless directly asked for their opinion.
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Summary: More than half of the financial advisors working today won’t be working full time 10 years from now, and more full-service broker-dealers will have retreated than independent BDs or RIAs. But after 15 years RIAs will be leading the departures, followed by IBDs.
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Summary: Every year, many owners (or partners) of advisory businesses, sometimes even founders, are asked to leave their firms for reasons ranging from underperformance to poor relationships or disastrous mistakes they have made.
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Summary: How can I pull a team together most effectively? We have spent a lot of time in the hiring process identifying great people and each one – on their own – is very good. But when they come together they all jockey for the top-dog position.
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Summary: Most companies are able to avoid the lurid headlines associated with the Redstone situation, but succession can be a “make or break” consideration for companies. A well-managed CEO succession can help a company reach new highs, while a badly managed succession can cause a company to stagnate or decline. Investors should understand some of the common themes associated with “failed” CEO succession plans.
